306 Old Colchester Road #197SalemCT06420
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Investment property for sale in Salem at 306 Old Colchester Road #197, Salem, CT, 06420 earns from $1,032/mo rent with a $661/mo payment. Total monthly income totals $1,032/mo. ROI tracks 17.48% on current figures, and rental yield reads 9.17% at a $135,000 purchase. Equity gained on principal adds $871/yr, and 5% annual appreciation supports $37,298 over five years. Five-year ROI reaches 92.67% and total cumulative return in cash sums $41,473. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,032/mo property income instead of your personal income.
Condo
Built in 1991
N/A lot
$N/A/sqft
$2,463 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06420, Salem, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,765 (100%) |
| Owner Occupied HU | 1,453 (82.3%) |
| Renter Occupied HU | 202 (11.4%) |
| Vacant Housing Units | 110 ( 6.2%) |
| Median Home Value | $414,809 |
| Average Home Value | $443,741 |
Housing Distribution
Address Breakdown
Residential
1,787
Single Family
1,739
Multi-Family
48
Businesses
77
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Listed by: Rose Warmingham • Realty ONE Group Connect
Mls Name: Smart MLS
Mls Provider:
Mls ID: #24106596
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.